Tuesday, January 12, 2016

Canadian Loonie Being Demolished


A Disaster for Canadians

The victim of ten years of atrocious economic management and deliberate obfuscation by supposed economists and petrostate illusionists, Canada is now in a deep hole.

Buying power of the Canadian loonie has been decimated in recent months, jobs are few and far between, manufacturers are fleeing.

The government is plagued by many consecutive years of deficits, all caused by a form of corporate welfare and a lack of vision.

Canada has been bereft of sound economic planning for the past ten years even as the government was headed by a supposed 'economist'.

Ten years of deficits and smaller revenues on the horizon leave the new government few alternatives.

Selling out resources to off shore corporations puts Canada at the mercy of foreign government policies.

Multiple disadvantageous trade agreements will scar Canada for generations to come.

Here are some comments on this egregious mess

Canadian dollar sinks below 70¢ as oil dips under $30 - The Globe and Mail
Tue, 12 Jan 2016 19:15:26 GMT
The loonie dipped under the 70-cent (U.S.) level, touching as low as 69.9 cents, having rallied earlier to as high as 70.5 cents. It was hovering at just above 70 cents by late afternoon. The currency has been largely hit by oil prices, which dipped ...Canadian dollar dips below 70 cents U.S. for first time since April 2003

Canadian dollar dips below 70 cents US before recovering - CBC.ca
Tue, 12 Jan 2016 21:39:21 GMT
The Canadian dollar has dropped below the 70-cent US level for the first time since May 2003. When stock markets closed on Tuesday, the loonie was changing hands at 70.13 cents US, down by about a fifth of a cent after earlier dipping below the 70-centᅠ...Canadian dollar dips below 70 cents US for first time since 2003

Cheap Canadian dollar making fruits and vegetables much more expensive - CBC.ca
Tue, 12 Jan 2016 13:43:31 GMT
The sliding loonie could make it harder for some Canadians to eat their Florida oranges or California heads of lettuce this year. The dropping dollar, which is hovering just above the 70-cent U.S. mark, is expected to continue to leave shoppers with ...Here's how much more Canadians will have to pay for fruits and veg because of ...

The Canadian dollar is getting crushed - MarketWatch
 Tue, 12 Jan 2016 20:16:28 GMT
Crude-oil prices resumed their slump Tuesday—and they're dragging the currencies of oil exporters down with them. And while the currencies of all major exporters have been hurt by oil's punishing drop, over the past month, the Canadian dollar hasᅠ...

Report: Canadian Dollar Continues to Decline - Today's Slapshot
Tue, 12 Jan 2016 19:20:03 GMT
When the NHL Board of Governors released their initial projections for the 2016-17 salary cap, it appeared that the league would see an uptick in the salary cap ceiling – based on the Canadian Dollar sitting 80 cents on the American Dollar, down a ...

Some win, some lose as Canadian dollar drops - Times Colonist
Tue, 12 Jan 2016 18:39:34 GMT

Some win, some lose as Canadian dollar dropsTimes ColonistVancouver mining company Teck Resources credits the low Canadian dollar for helping the company weather the downturn in commodity prices, with the company able to sell its copper and coal at U.S. prices while pay operating costs in Canadian.

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